Large model company StepFun recently completed a Series B+ funding round exceeding RMB 5 billion, setting a new record for the largest single funding round in China's large model sector over the past 12 months. This round of funding was led by industrial investors such as Shanghai International Group Investment & Development Leading Fund and China Life Equity, with follow-on investments from existing shareholders including Tencent. The funds will be used for basic model R&D and to accelerate the implementation of the 'AI + terminals' strategy.
